GE Plans to Launch a Bid
For Sanyo Electric Credit

TOKYO -- General Electric Co. said Friday it will launch a tender offer for all shares of Sanyo Electric Credit Co. in a takeover deal valued at up to &yen;135 billion ($1.14 billion).

The U.S. conglomerate will launch the tender offer March 26 after beating offers from companies such as Japan's Shinsei Bank Ltd. according to a Nikkei report, in bidding conducted by Goldman Sachs and Sanyo Electric Co.